Posted by DigiNomad on 29th of Feb 2024 at 02:26 pm
SPX - today's low looks really obvious in hindsight. I even had
it marked on my chart and watched at least 2 YouTubers before the
open that suggested a V bottom after retracing to that level. My
plan was to enter off the 1st retrace of the bounce off the bottom
at the 38.2 level or below...but it never came (it probably hit a
30 or 35...but not 38). Oh well.
Posted by keyhole7 on 29th of Feb 2024 at 02:37 pm
I had a similar plan for /ES. On the 30 minute chart, the 8:00
candle was red with a high of 5069.25. The 8:30 candle took off
after the PCE announcement, so I put a buy in at 5069.25 and waited
for the pullback. Price dropped to 5070 and bounced. Oh well.
Posted by DigiNomad on 29th of Feb 2024 at 02:46 pm
Haha. Same same. I feel like the market is using AI overnight to
examine winning traders patterns and adjusting to remove the more
obvious "tells" they work off of. If they aren't doing it
yet, it's just a matter of time!
Posted by mastermind on 29th of Feb 2024 at 02:56 pm
Well, this is why I don't day trade. I don't want to be sucked
in by quick fakeout moves. Let positions prove themselves over a
more reasonable time frame.
Posted by DigiNomad on 29th of Feb 2024 at 03:07 pm
I avoided day trading...hated the idea. But after 15+ years of
watching the market all day, I finally took the plunge. I was so
sick of getting stopped out of swing trades only to have them
reverse higher after clearing me out. My primary trade now is
the reversal / trap. I must have watched thousands of YouTube
videos before I settled on a single pattern type and plan. It
has also helped me be more disciplined with my longer term
portfolio (setting targets, measuring risk reward prior to
execution, etc).
SPX - today's low looks
Posted by DigiNomad on 29th of Feb 2024 at 02:26 pm
SPX - today's low looks really obvious in hindsight. I even had it marked on my chart and watched at least 2 YouTubers before the open that suggested a V bottom after retracing to that level. My plan was to enter off the 1st retrace of the bounce off the bottom at the 38.2 level or below...but it never came (it probably hit a 30 or 35...but not 38). Oh well.
I had a similar plan
Posted by keyhole7 on 29th of Feb 2024 at 02:37 pm
I had a similar plan for /ES. On the 30 minute chart, the 8:00 candle was red with a high of 5069.25. The 8:30 candle took off after the PCE announcement, so I put a buy in at 5069.25 and waited for the pullback. Price dropped to 5070 and bounced. Oh well.
Haha. Same same. I feel
Posted by DigiNomad on 29th of Feb 2024 at 02:46 pm
Haha. Same same. I feel like the market is using AI overnight to examine winning traders patterns and adjusting to remove the more obvious "tells" they work off of. If they aren't doing it yet, it's just a matter of time!
Gezz, I hope not. It's
Posted by keyhole7 on 29th of Feb 2024 at 02:50 pm
Gezz, I hope not. It's hard enough trying to outsmart the Algo's as it is...
Well, this is why I
Posted by mastermind on 29th of Feb 2024 at 02:56 pm
Well, this is why I don't day trade. I don't want to be sucked in by quick fakeout moves. Let positions prove themselves over a more reasonable time frame.
I avoided day trading...hated the
Posted by DigiNomad on 29th of Feb 2024 at 03:07 pm
I avoided day trading...hated the idea. But after 15+ years of watching the market all day, I finally took the plunge. I was so sick of getting stopped out of swing trades only to have them reverse higher after clearing me out. My primary trade now is the reversal / trap. I must have watched thousands of YouTube videos before I settled on a single pattern type and plan. It has also helped me be more disciplined with my longer term portfolio (setting targets, measuring risk reward prior to execution, etc).
I do covered CALLS and
Posted by keyhole7 on 29th of Feb 2024 at 03:11 pm
I do covered CALLS and cash secured PUTS, so I own stock that I keep for different periods of time. I only day trade /ES futures